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https://www.economist.com/leaders/2020/09/19/the-ecbs-lack-of-credibility-could-hamstring-europes-recoveryThe article talks about a fiscal response to the pandemic. One fiscal action was to increase transfers.Describe, employing the Keynesian income-expenditure model, the effects of

https://www.economist.com/leaders/2020/09/19/the-ecbs-lack-of-credibility-could-hamstring-europes-recoveryThe article talks about "a fiscal response to the pandemic".

One fiscal action was to increase transfers.Describe, employing the Keynesian income-expenditure model, the effects of this policy action on real activity

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